2026-01-29 | Instrução Normativa BCB 704

Added 2026-09-27

Normative Instruction BCB No. 704 — Discloses procedures, documents, deadlines, and information required for authorization requests for foreign exchange brokers, securities brokers, securities distributors, and virtual asset service providers

This instruction establishes the specific procedures, documents, deadlines, and information required for authorization requests concerning foreign exchange brokerage firms, securities brokers, securities distributors, and virtual asset service providers. It mandates that applications be filed with the Central Bank of Brazil’s Financial System Organization Department, detailing required forms such as Sisorf 08.23.010.001 and various declarations regarding economic capacity, source of funds, and administrator qualifications. For virtual asset service providers, it distinguishes between new entrants and those already in operation, imposing a submission deadline of October 30, 2026, for the latter’s phase 1 application and requiring reasonable assurance reports from independent auditors registered with the CVM. The regulation also outlines requirements for changing company modality or transferring control, specifying thirty-day deadlines for such requests and the necessary supporting documentation to prove economic viability and regulatory compliance.

Brazil

Banco Central do Brasil

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NORMATIVE INSTRUCTION BCB NO. 704, OF JANUARY 29, 2026

Discloses procedures, documents, deadlines, and information required for the processing of authorization requests related to the operation of foreign exchange brokerage firms, securities and securities brokerage firms, securities distribution firms, and virtual asset service providers.

The Head of the Financial System Organization Department (Deorf), acting in substitution, in exercise of the authority granted by Articles 23, item I, letter “a”, and 98, item VI, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, based on Article 4 of Resolution BCB No. 519, of November 10, 2025, Article 35 of Resolution BCB No. 277, of December 31, 2022, and Article 16, item III, of Resolution BCB No. 130, of August 20, 2021,

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Amended by: Central Bank of Brazil Normative Instruction No. 739 of May 29, 20262026
Issued under: BCB Resolution No. 519 — Regulates Authorization Processes for Foreign Exchange Brokers, Securities and Derivatives Brokers, Securities Distributors, and Virtual Asset Service Providers2025 BCB Resolution No. 520 — Regulates the establishment and operation of virtual asset service providers and the provision of virtual asset services by other institutions authorized by the Central Bank of Brazil2025 Resolution BCB No. 130 — Independent Audit Services for Institutions Regulated by the Central Bank of Brazil2021BCB Resolution No. 277 dated 2022-12-31not in RegAlertBCB Resolution No. 340 dated 2023-09-21not in RegAlert
Refers to: Circular No. 3978 — Internal Policy, Procedures, and Controls for Preventing Money Laundering and Terrorist Financing2020

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Amended 1 time · last 2026-05-29

2026-05-29BCBCentral Bank of Brazil Normative Instruction No. 739 of May 29, 2026amends

Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works